India is named one of the best-performing stock markets this year, defying concerns about rising interest rates and economic slowdown that bothered its peers. The BSE Sensex is up 2.95% and the NSE Nifty 50 is up 2.87% year to date (YTD), while the MSCI All-Country World Index fell 20%. 

The crucial happenings in the Indian stock market include The recovery of the banking sector, the rally in port-to-power Adani Group companies, a slump in the IT sector amid fears of a possible recession in the US and Europe and the impact of the geopolitical crisis. Moreover, 41 companies came up with their IPOs this year. Here are some of the best-performing IPOs so far this year: 

Adani Wilmar Limited 

The shares of Adani Wilmar have outperformed the benchmark indices and their peers. They had an issue price of ₹ 230.00 and it got listed at ₹ 221 on the BSE and at ₹ 227 on the NSE, i.e. at a discount. However, they reached a 52-week high of ₹ 878.00, multiplying investors’ wealth by almost three times. 

Adani Wilmar is a joint venture between the Adani Group and the Wilmar Group. It is a leading FMCG company in India that offers kitchen essentials like edible oil, wheat flour, rice, pulses and sugar. Its shares closed at ₹ 550.80 apiece on Tuesday, indicating that its IPO investors are still sitting on multibagger returns of 139.48%. 

Hariom Pipe Industries Limited 

The shares of Hariom Pipe Industries have more than doubled since their IPO. They were offered at a price of ₹ 153.00 and jumped to the tune of 40% on the bourses on the day of their listing. The shares got listed at ₹ 214 apiece on the BSE and at ₹ 220 apiece on the NSE. 

Hariom Pipe Industries Limited is an integrated steel manufacturer with a stronghold in the South Indian market. Its products cater to a variety of industrial applications across multiple sectors. The company’s shares closed at ₹ 343.00 apiece, up 124.18% since the IPO, giving multibagger returns. They reached a 52-week high of ₹ 373.80 apiece. 

Venus Pipes & Tubes Ltd 

The shares of Venus Pipes & Tubes registered marginal listing gains. They got listed at ₹ 326.00 on the BSE and ₹ 337.50 on the NSE against the IPO price of ₹ 326.00 and reached a 52-week high of ₹ 774.85 apiece. 

Venus Pipes & Tubes manufactures and exports stainless steel pipes and tubes. Its shares closed at ₹ 705.00 apiece on Tuesday. This indicates that investors who invested during the IPO are sitting on multibagger returns of 116.26%.

A few other IPOs that did well this year include Veranda Learning Solutions, Vedant Fashions, Electronics Mart India, Prudent Corporate Advisory Services and Campus Activewear. These shares closed at 40 to 80% above their issue price. 

Written by Simran Bafna 

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